NRA Files For Bankruptcy, Seeking To Evade NY Lawsuit, Probe

New York attorney general seeking to dissolve group over diverting more than $60 million for lavish spending.
Posted at 1:30 PM, Jan 16, 2021

The National Rifle Association — the prolific gun rights group and major donor to Republican candidates — has filed for bankruptcy.

 Additionally, its looking to reincorporate in Texas as the New York Attorney General's office pursues a lawsuit seeking to dissolve the company over alleged financial improprieties.

The NRA filed for Chapter 11 Bankruptcy in Dallas after the pandemic forced the 5-million member group to cancel events and lay off employees in an election year.

In New York, Attorney General Letitia James accuses NRA leaders of diverting more than $60 million for private jets, luxurious vacations and paying off former employees to buy their silence

But the NRA insists it's in good financial health — instead saying it's leaving New York over what it calls an unfair political crackdown.

It said in a statement: “The move will enable long-term, sustainable growth and ensure the NRA’s continued success as the nation’s leading advocate for constitutional freedom – free from the toxic political environment of New York.”

The New York A.G. said she will proceed with enforcement actions, even if the NRA bolts to Texas.

She said: "We will continue our efforts because this organization has gone unchecked for years."

The NRA disputes the allegations and says it will prevail in court.